Hilton Worldwide and Starwood Hotels have favorable exposure and catalysts.

Hilton (ticker: HLT) is our top lodging pick due to: 1) Exposure to U.S. average daily rate (ADR) growth (U.S. is 76% of earnings before interest, taxes, depreciation and amortization (Ebitda)); 2) Preferred way to play ADR growth and group recovery: owned assets generate 37% of Ebitda;...